Wisequity V closes at hard cap of €260m

Wise Equity (“Wise”), a leading investor in the Italian lower middle market, has held a first and final close for its fifth fund at its hardcap of €260m less than two months post launch.

Founded in 2000, Wise is one of the most established Private Equity firms investing in the Italian lower middle market. The Firm targets Italian SMEs with Enterprise Values between €20 million and €70 million operating in niche, specialised sectors, which offer build-up opportunities and where Italian companies lead on a global basis. The firm is led by six experienced partners who have worked together for almost 20 years on average and are supported by six additional investment professionals.

Wisequity V attracted significant commitments from existing investors as well as selected new institutional investors, with the fund predominantly made up of leading pension funds, insurance, fund of funds and large family offices. International institutional investors from North America, Asia and Europe account for around two-thirds of total commitments, with the balance from Italian institutional investors and HNWIs. 

The fundraise follows on from the recent success of Wisequity III and IV which to date have generated a realised MoC of 4.5x. Wisequity IV (2016) is fully invested across eight investments and has already returned about half of the fund following the first exit.